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Cardinal Health Updates FY09 Outlook
Date:1/8/2009

DUBLIN, Ohio, Jan. 8 /PRNewswire-FirstCall/ -- Cardinal Health today announced it expects to report solid earnings per share (EPS) results for its fiscal second quarter, but provided caution for the remainder of the fiscal year because of a deferral in hospital capital spending affecting its Clinical and Medical Products segment.

Non-GAAP diluted EPS from continuing operations(1) for the company's fiscal second quarter, ended Dec. 31, 2008, is anticipated to be at least $0.90, driven by solid operating results and a better than expected tax rate. In addition, the company reaffirmed its previously announced full-year revenue and segment profit goals for its Healthcare Supply Chain Services segment, but is updating its EPS guidance for the full year.

"It is difficult to forecast the exact duration and potential long-term changes in hospital spending patterns, but the company is taking appropriate cost actions to mitigate the impact," said R. Kerry Clark, chairman and CEO of Cardinal Health. "Based on our current data, we anticipate full-year non-GAAP EPS to be in a range of $3.50 to $3.60 versus a previously provided range of $3.80 to $3.95."

David Schlotterbeck, CEO of Clinical and Medical Products said, "With the delay in hospital capital spending, we expect softness in our capital equipment sales to continue in the second half of the fiscal year. It is important to note that more than 40 percent of our Clinical and Medical Products business comes from the sale of disposable products and remains stable. There are also segments of our capital equipment business less affected, and therefore we expect Clinical and Medical Products segment results for the fiscal year to be flat or better than last fiscal year."

George Barrett, CEO of Healthcare Supply Chain Services said, "Our team has made considerable progress over the past nine months, and in spite of an extraordinary economic c
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SOURCE Cardinal Health, Inc.
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